Location: Clarksville, TN | Metro: Clarksville, TN-KY HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,270 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,620 |
| 5 Bedrooms | $3,039 |
| 6 Bedrooms | $3,404 |
| 7 Bedrooms | $3,676 |
| 8 Bedrooms | $3,860 |
U.S. Census Bureau data (2024)
The ZIP code 42223, located in Kentucky, stands out due to its unique demographic and economic characteristics. With a population of 19,006 residents, it boasts an exceptionally high rental rate of 98.9%, indicating a strong preference for renting over homeownership among its inhabitants. The median income in this ZIP code is $61,598, which provides a solid financial foundation for its residents. However, the median home value is listed as N/A, suggesting that owning property might not be a common practice in this area.
Turning to the specifics of Section 8 housing assistance, the Fair Market Rent (FMR) for ZIP 42223 in fiscal year 2024 is set at $1,510. This figure is notably lower than the average market rent of $1,603, as reported by the Census Bureau's American Community Survey (ACS). Landlords participating in the Section 8 program can expect to receive a payment standard that covers a significant portion of the market rent but not the entirety, potentially leading to a slight shortfall. Given the high rental rate, this ZIP code likely has a substantial demand for subsidized housing, making it a viable option for landlords willing to participate in the Section 8 program.
The data signature for ZIP 42223 indicates a stable environment. The high rental rate suggests a consistent demand for rental properties, and the median income provides a reliable indicator of the financial stability of the local population. Although the gap between the FMR and market rent could present some challenges, the overall economic conditions appear steady, offering a predictable investment climate for landlords and small-portfolio investors. The lack of data on median home values further emphasizes the rental-focused nature of this ZIP code, aligning with the broader trend of stable, high-rent occupancy rates.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.